BANKS “AGGRESSIVE” IN THE FINAL STRAIGHT OF THE YEAR
In the final stretch of the year, Banks are “aggressive” in offering attractive Mixed Rates with different fixed periods.
Currently, a client can access to:
Fixed Rate from 2.65% with 0% spread (margin) during the first 3 years.
&
Fixed Rate from 2.70% with 0% spread (margin) during the first 5 years.
This is an excellent offer considering that currently the 6-Month Euribor is at 2.916%
https://www.euribor-rates.eu/en/
If the client decided to opt for a Variable Rate and benefit a spread (margin) of 0.7%, the Nominal Rate would be 3.616% (rate reviewed every six months, which implies a higher risk).
In this case, it would be a higher rate than the 3 and 5 year Fixed Rates.
With different fixed periods available on the market:
|
Fixe Rate |
Mortgage Amount < 200.000€ |
Mortgage Amount > 200.000€ |
|
2 Years |
3.00% |
2.85% |
|
3 Years * |
2.90% |
2.75% |
|
5 Years |
2.85% |
2.70% |
* Current Offer by a Bank in Portugal also present a 3-year Fixed Rate from 2.65% for an LTV < 70%
